Path is designed to be a sort of personal journal app, but in 2010 when it first became available, it was a photo sharing experience more than anything else. Today, a strategic partnership with Nike lets you share workout details with friends and family, send travel information, share location information, and even transmit sleep details. It is evolving quickly and ideally this latest round of funding will go toward more innovations for the app.

"Today we’re taking another step to improve the Path experience for those of you abroad. We have set up a new translation platform, powered by Smartling, which allows you to sign up and edit the languages available for Path, submit translations and work with others to ensure your language is fully supported in future versions of Path."

So we can expect more great things from Path soon as they continue to grow and invest in new projects to expand the reach of their services. Technology companies like this can be hard to predict, but I would bet Path will be a winner for investors this year.